Spazio Investment NV shares close first trading day up 8% on IPO price

Price sensitive
Milan, 18 October 2006- Spazio Investment NV, a company organised and established under the laws of the Netherlands, which owns 100% of Spazio Industriale, a closed-end fund available only to qualified investors and managed by Pirelli RE SGR, made its debut today on the London Stock Exchange’s Alternative Investment Market (AIM). The shares closed their first day of trading up by approximately 8% on the IPO price of €12.5 per share, with a market capitalisation of approximately €411m.